COMPANY PROFILE -SK Bioscience
Business Sector :Biotech
Operating Geography :South Korea, Asia, Global
About SK Bioscience :
Headquartered in South Korea, SK Bioscience Co Ltd operates biopharmaceutical businesses which primarily engages in the manufacture and selling of biological products. The company produces vaccines, varicella drugs, SKYCellflu prefilled syringes, SKYCellflu quadrivalent prefilled syringes and other related products. SK Bioscience does marketing of its product throughout South Korea with its prime products being SKYCellflu and Rotatech. SK Bioscience developed South Korea’s first COVID- 19 vaccine ‘SKYCovione’ and a universal vaccine to prevent ‘Sarbecovirus’. It is planning to commercialize a pneumococcal conjugate vaccine, typhoid conjugate vaccine, cervical cancer vaccine and rotavirus vaccine. During the recent COVID-19 pandemic, the company help establish a fast response system and has grown into a global vaccine company. The National Pharmaceutical Regulatory Agency (NPRA) in Malaysia approved the company's application for a biologics licence for the "SKYZosterTM" in January 2023, according to a statement released by SK Bioscience.
SK Bioscience’s mission statement reads “We promote human health, from prevention to cure”. SK Bioscience’s vision statement reads “Global innovative Partner of Vaccine and Biotech.” The USP or Unique Selling Proposition of SK Bioscience lies in being a leading South Korean vaccine and biotech company which continues to build trust as a global innovative partner of vaccine and biotech to make its employees, shareholders, customers and local communities proud and happy.
SK Bioscience Revenue :
Won 929 billion - FY ending 31st March 2021
Won 225.6 billion - FY ending 31st March 2020
Competitive Analysis of SK Bioscience
The SWOT analysis for SK Bioscience is presented below in a matrix followed by the detailed analysis report:
| Strengths | Weaknesses |
1. Strong Global Partnerships provide SK Bioscience with an edge
2. Increased focus on innovative R&D drives technological growth
3. Efficient and high-level efficiency manufacturing system reduces costs
4. Financial Stability with a successful IPO
| NA |
| Opportunities | Threats |
1. Immense scope for growth in vaccine market due to huge investment
2. Biopharmaceuticals market to grow at 11.7% CAGR
| 1. Lower expectations for COVID-19 vaccines in the wake of economic reopening |
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Detailed SWOT Analysis of SK Bioscience
Strength
1. Strong Global Partnerships provide SK Bioscience with an edge: To advance health and rule the worldwide market for vaccines and biotechnology, SK Bioscience is embracing international cooperation. It is growing its CMO and CDMO businesses by utilising alliances based on advanced manufacturing capabilities and technology. It is collaborating closely with a variety of partners within the bio-ecosystem for joint research and development, including international projects, businesses, and governments. By using its collaborative development, commissioning projects, technology transfer, strategic M&A, and open innovation, it will strengthen its partnership as it evolves into a worldwide vaccination hub. The future of the life science industry will be fueled by the vast product portfolio that SK Bioscience has built up and the ongoing investment in vaccine development. Using cutting-edge technology, we will create high-quality vaccinations that support the advancement. During COVID-19, SK Bioscience it collaborated with AtraZeneca. It signed CMO agreement for in-house-developed vaccine with Korea Vaccine in 2020. It also has contracts with Chem and GC. Besides, SK Bioscience enjoys a stable support. It has funding from Bill and Melinda Gates Foundation and CEPI, etc.
The remaining section under "Strength" is available only in the 'Complete Report' on purchase.
Weakness
This section is available only in the 'Complete Report' on purchase.
Opportunity
This section is available only in the 'Complete Report' on purchase.
Threat
This section is available only in the 'Complete Report' on purchase.
The PESTLE analysis for SK Bioscience is presented below in a table followed by the detailed analysis report:
| Political | Economical |
1. Russia-Ukraine War impedes biopharma research
2. Federal Regulations affect the approval of vaccines
| 1. Rising inflation has risen input costs impacting profit
2. A rise in venture capital funding in healthcare in US indicates positive investment outlook
|
| Social | Technological |
| 1. Increase in ageing population, infectious diseases leading to the growth of vaccine market | 1. Rise of data driven technical development like blockchain, cloud technologies and artificial intelligence |
| Legal | Environmental |
| NA | 1. Strong focus on environmental initiatives |
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Detailed Pestle Analysis of SK Bioscience
Political
This section is available only in the 'Complete Report' on purchase.
Economic
This section is available only in the 'Complete Report' on purchase.
Social
This section is available only in the 'Complete Report' on purchase.
Technological
This section is available only in the 'Complete Report' on purchase.
Legal
This section is available only in the 'Complete Report' on purchase.
Environmental
1. Strong focus on environmental initiatives: Many biotech companies have increased their contribution when it comes to preventing carbon emissions. SK Bioscience strongly focusses on environmental initiatives. Its environmental management system is built around SK Bioscience's SHE (Safety, Health & Environment) management strategy. It includes its pledges to defend the planet and the environment from a number of angles. It is committed to reducing ecological impacts across the board of its operations, maintaining environmental performance for all partner locations and corporate operations, abiding by environmental regulations, and addressing climate change. In the past, it has received a Grade 1 energy efficiency designation in Korea and LEED Platinum status (the highest level) in the U.S. SK Bioscience has used 101 environmentally friendly materials and technology in its architectural designs. It received the highest rating and a Grade 1 designation from the domestic certification organisation GBCC.
Major Competitors :
- Genevide
- Tanvex BioPharma
- Bionova Lifesciences
- Cadila Pharmaceuticals
- Livzon Pharmaceutical Group
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TABLE OF CONTENTS
DELIVERY AND FORMAT
WHY CHOOSE US?
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| SK Bioscience Covid-19 Impact Analysis |
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| SK Bioscience BCG Analysis |
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| SK Bioscience Segmentation, Targeting and Positioning (STP) Analysis |
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| SK Bioscience Ansoff Matrix Analysis |
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Check Out Analysis of Other Relevant Companies
References used in SK Bioscience SWOT & PESTLE Analysis Report
1. World's best-performing IPO in 2021 is a Korean bioscience firm - https://www.business-standard.com/article/international/world-s-best-performing-ipo-in-2021-is-a-korean-bioscience-firm-121120700738_1.html
2. Sustainability Management Report - https://www.skbioscience.com/en/esg/management
3. Annual Report - https://www.skbioscience.com/ilb/media.php?g=media&t=pdf&f=bbs_20221024181523.pdf
4. Ukraine Invasion Challenges Biopharma Research and Operations - https://www.pharmtech.com/view/ukraine-invasion-challenges-biopharma-research-and-operations
The detailed complete set of references are available on request in the 'Complete report' on purchase.
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